The execution date is the specific day upon which all parties to a contract formally agree to and sign the document, thereby making the contract legally binding. This date is crucial as it often determines when contractual obligations commence and may affect deadlines and timelines stipulated within the agreement.
IN WITNESS WHEREOF, the undersigned has executed this Amendment effective as of the Execution Date.
3. EXECUTION DATE 3.1 The Sellers hereby sells the Purchased Assets to the Purchaser with effect in personam and in rem with effect as of the Execution Date (as defined below). 3.2 The Purchased Assets shall be transferred, in accordance with the provisions of Section II of this Agreement, on the Execution Date, with the arrangements Section II governs being subject to realization of the Suspensive Conditions specified in Clause 4. If the Parties do not amicably agree to another date, the Execution Date shall be the last calendar day of the month in which this Agreement is signed (hereinafter, the “Execution Date"). If the Execution Date falls on a week day that is not a Banking Day as defined by this Agreement (i.e., a week day on which the banks in Frankfurt am Main are open for normal business, hereinafter a “Banking Day”), the Execution Day shall be the following Banking Day.
1. Execution date February 10, 2021
5. Duration Twenty-four (24) years and eleven (11) months commencing on the execution date.
Desired Execution Date A business day within the contract limit period that the Borrower indicates on the Loan Application Form as the day on which it wishes to execute Each Loan.
Execution Date The date on which Each Loan is executed.
The Execution Date refers to the specific date on which all parties involved in a contract have signed the agreement, making it legally binding. This date is crucial as it marks the beginning of the contract’s enforceability and can impact other terms and deadlines within the contract. It is different from the Effective Date, which is the date when the obligations in the contract actually start.
You should use an Execution Date in any contractual agreement that requires formalization through the signing of the document by all involved parties. It is essential for establishing the timeline for contract performance and ensuring that the obligations and rights start being recognized from a specific point in time. Including an Execution Date helps avoid legal ambiguities and misunderstandings regarding when the contract starts being operative.
When writing an Execution Date in a contract, it is typically included in the preamble or introductory clause of the document. It can be formatted as follows:
“This Agreement is made and entered into on this [day] of [month], [year] (the ‘Execution Date’) by and between…”
Ensure that the date is clearly stated and easy to read to prevent any confusion. Additionally, all parties involved should agree on the Execution Date before signing.
Contracts across various sectors and industries commonly include an Execution Date. These can include, but are not limited to:
By including an Execution Date in these contracts, parties can ensure clarity and avoid potential legal disputes related to the initiation of contractual obligations.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "Execution in counterparts" clause allows a contract to be signed in separate, individual copies, with each party signing their own version. All signed copies together constitute a single, binding agreement, even though the signatures may not appear on the same document.
An executive bonus plan clause outlines the terms and conditions under which company executives are eligible to receive additional compensation beyond their regular salary, typically linked to performance metrics or company goals. This clause ensures alignment between executive incentives and organizational objectives, motivating leadership to achieve strategic targets.
An "Executive Review" clause typically stipulates that certain decisions or actions under the contract will require the approval or evaluation of an executive or senior leadership team. It ensures that critical matters receive high-level oversight to align with the organization's strategic goals and interests.
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